India: Market for Isoprene Rubber (IR) in Primary Forms 2024

Market Size for Isoprene Rubber (IR) in Primary Forms in India

The Indian market for isoprene rubber (IR) in primary forms surged to $X in 2021, with an increase of 100% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption posted a buoyant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Isoprene Rubber (IR) in Primary Forms

Exports from India

In 2021, overseas shipments of isoprene rubber (IR) in primary forms increased by 59% to X tons, rising for the fourth consecutive year after three years of decline. Overall, exports continue to indicate strong growth. The most prominent rate of growth was recorded in 2013 when exports increased by 109% against the previous year. Over the period under review, the exports of hit record highs in 2021 and are likely to see gradual growth in years to come.

In value terms, exports of isoprene rubber (IR) in primary forms surged to $X in 2021. In general, exports saw strong growth. The pace of growth appeared the most rapid in 2013 when exports increased by 105%. Over the period under review, the exports of hit record highs at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Iran (X tons), Italy (X tons) and Turkey (X tons) were the main destinations of exports of isoprene rubber (IR) in primary forms from India, with a combined 48% share of total exports. These countries were followed by the United Arab Emirates, Russia, Serbia, Thailand, Estonia and Portugal, which together accounted for a further 42%.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +176.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Iran ($X), Italy ($X) and Turkey ($X) constituted the largest markets for isoprene rubber (IR) in primary form exported from India worldwide, with a combined 45% share of total exports. The United Arab Emirates, Russia, Serbia, Estonia, Thailand and Portugal lagged somewhat behind, together accounting for a further 41%.

In terms of the main countries of destination, Russia, with a CAGR of +195.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for isoprene rubber (IR) in primary forms stood at $X per ton in 2021, with an increase of 16% against the previous year. Overall, the export price, however, recorded a pronounced slump. The pace of growth was the most pronounced in 2017 when the average export price increased by 16% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, the countries with the highest prices were Russia ($X per ton) and Estonia ($X per ton), while the average price for exports to Thailand ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Isoprene Rubber (IR) in Primary Forms

Imports into India

In 2021, approx. X tons of isoprene rubber (IR) in primary forms were imported into India; increasing by 82% against 2020. In general, imports saw strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of isoprene rubber (IR) in primary forms soared to $X in 2021. Overall, imports showed resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Russia (X tons) constituted the largest isoprene rubber (IR) in primary form supplier to India, accounting for a 55% share of total imports. Moreover, imports of isoprene rubber (IR) in primary forms from Russia exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. China (X tons) ranked third in terms of total imports with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia totaled +33.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+23.1% per year) and China (+37.9% per year).

In value terms, Russia ($X), Japan ($X) and China ($X) were the largest isoprene rubber (IR) in primary form suppliers to India, with a combined 86% share of total imports.

Russia, with a CAGR of +24.2%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for isoprene rubber (IR) in primary forms amounted to $X per ton, with an increase of 11% against the previous year. In general, the import price, however, recorded a perceptible reduction. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+2.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform